Posted on 13 Jan 2026
Shagang Group (Shagang), China's leading privately-owned steelmaker, has decided to hold its list prices for long products for sales during January 11-20 from its previous eleven-day sales period, the company announced last Sunday.
With its latest pricing policy, Shagang continues to hold the price of its HRB400 16-20mm rebar at Yuan 3,450/tonne ($495/t), its HPB300 6-10mm wire rod at Yuan 3,470/t, and its HRB400 8-10mm bar-in-coil at Yuan 3,560/t. All prices are EXW and include the 13% VAT.
Shagang, headquartered in Zhangjiagang in East China's Jiangsu province, updates its long steel prices three times a month and is generally regarded as the price-setter for the domestic long steel market, particularly in East China, Mysteel Global noted.
Its latest decision means that Shagang has opted to roll over its longs prices for twelve consecutive pricing cycles, observed a market source, adding that the mill isclearly maintaining a cautious stance towards the market for construction longs for the near-term.
Long steel market fundamentals showed signs of weakening in the first ten days of 2026, primarily represented by the accumulation of construction steel items such as bars and sections for the first time since mid-October, survey results indicated.
The combined inventories of rebar and wire rod held by traders and piled in commercial warehouses in the 35 cities Mysteel regularly checks had climbed by 3.3% or 106,000 tonnes on week to 3.36 million tonnes as of January 8. The increase reflected robust output by mills and subdued demand among end-users, Mysteel Global noted.
The combined output of rebar and wire rod among the 137 steel mills under Mysteel's coverage totalled 2.64 million tonnes over January 1-7, holding largely steady while dipping by a minimal 0.14% on week after a three-week gain.
Daily spot trading volume of construction steel items comprising rebar, wire rod and bar-in-coil among the 237 trading houses under Mysteel's tracking came in at 95,475 tonnes/day during early January, edging down by a minimal 0.6% or 605 t/d from late-December.
Prices have also eased. On January 9, Mysteelassessed the spot price of HRB400E 20mm rebar in Shanghai – a major market for Shagang brand rebar – at Yuan 3,290/t including the 13% VAT, down by Yuan 10/t from the price on December 31.
Source:Mysteel
